smallest overpayment amount

begbeer

Am thinking of overpaying my interest only mortgage at the end of each month with any money left after all expenses sometimes this is going to be very little ie £10 and wondered if anyone else does the same thing
Am allowed to do this under my agreement, it will only affect my monthly payment if I pay more than three times my usual payment.

lindens

Have a look at this thread over on MFW https://forums.moneysavingexpert.com/discussion/3594273

she does tilly tidies which has now caught on as a MSE phrase! So you can do 1pence! if you want. She has got into the habit of checking her online bank and if the balance was £100.05, she moves across the 5pence on the proviso she's not going to miss that, but that they all mount up.

Tilly_MFW_in_6_YRS

Hi, yep I am the nutter who would even OP 1p, however, I would urge you to check with yr provider about what is allowed. They vary significantly and you don't want to shoot yourself in the foot

I have an offset mortgage and can OP whatever and whenever I like fortunately.

If you can't OP the mortgage died toy, maybe you could set up a savings vehicle and move your Tilly Tidies there, then OP once it's mounted up.

By the way, I started this to make sure I mazimised all efforts to OP and not waste any money, which potentially was wasted elsewhere.

Good luck with whichever approach you take.

Best wishes, Tilly